news for Canadian petroleum . Production is rising and will continue to rise — perhaps rapidly — for the foreseeable future . First , the Bakken Formation now appears to hold much larger reserves than previously anticipated , and advances in fracking technology make a larger portion of those resources recoverable than was imaginable five years ago . Second , continued development of the tar sands deposits promises radical expansion of that market , too . Overall , Canadian oil production is expected to more than double by 2030 .
At first , all that extra production looked like a black gold rush . Investors sobered up , however , as they
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